Iranian Currency Plummets to Record Low Against the Dollar

SadaNews Economy - Several Iranian sites monitoring currency value have reported that it has plunged to a record low against the dollar on Tuesday, following weeks of protests triggered by the decline in currency value.

The exchange rate of the Iranian rial fell to 1.5 million rials per dollar, marking its lowest level ever, following widespread protests in the country due to economic crises.

Exchange shops displayed this rate at a time when Iran continues to suffer from the repercussions of international sanctions, particularly those related to its nuclear program, and poor management by government officials.

Protests in Iran began on December 28 in response to the collapse of the Iranian currency, the rial, and quickly spread across the country.

Activists reported that the crackdown on the protests resulted in the deaths of at least 6,126 people.